iGaming Business magazine Futures Report 2019 | Page 2

FUTURES REPORT
T
he gambling industry has come a long
way, from land-based operations to the
introduction of online betting two decades ago,
and the expanded ways users can now enjoy
gambling from different devices worldwide. None
of these milestones would have been possible
without the innovative spirit that organisations
bring through technology to achieve one major
goal: to create a world of entertainment and
excitement for the many players across the
globe. The online gaming market is one of the
fastest growing sectors in the gambling industry.
When it comes to turning breakthrough ideas into
action, new market entrants and opportunities
are a significant factor, as are the companies
that incorporate innovation into their culture and
business approach.
Often used as a buzzword, innovation brings
a positive change not only to the player’s
experience but also to the entire perception of
gambling as a high-tech industry. Major software
companies, regulators, the media, payment
providers and many others are starting to focus
their attention more on the gambling industry,
which is expected to witness a compound annual
growth rate of around 5.7% during the forecasted
period 2016-2022, based on research from
Infoholic. Based on the milestones reached so
far, the online gambling market was forecasted to
have a value of $59.8bn (£46.6bn) in 2020.
When it comes to the main drivers of
innovation, users take the leading role. Product
managers try to create better and broader
portfolio offerings through different entertainment
devices, as well as expanding gambling verticals
to levels never expected before. The companies
that provide breakthroughs in different gambling
areas are trusted partners for operators, willing to
answer all of the player’s requirements and meet
the need for modern and tech-savvy products.
Hugely popular around the globe, esports
is one of the most promising and challenging
verticals in the industry. Betting on esports is
on the rise, offering thrills, entertainment and a
superb gambling experience to the new and very
attractive millennial audience. The latest data
shows that many sportsbooks fail to properly
answer to esports fans’ expectations, not only
with coverage but also with on-site features,
promotions, etc. In the coming years, esports’
30 • ISSUE 114 • JANUARY - FEBRUARY 2019
INNOVATION
IN IGAMING
Lyubomira Petrova looks
to the future of the igaming
industry and considers how new
technologies will shape the way
we view online gambling
LYUBOMIRA
PETROVA
is CMO at UltraPlay, a
modern technological
company founded
in 2010. UltraPlay’s
core ambition is to
offer an innovative
approach to the online
gaming industry by
providing advanced
betting solutions,
focused on sports and
esports betting, live
betting, white label,
online casino and
blockchain technology.
potential has to be fully unleashed. Design and
engagement tools are vital. Millennials want the
look and feel of esports, and the classical sports
betting view is not the way to go.
Even though the top three esports titles
(CS:GO, Dota 2 and League of Legends) are
responsible for more than 60% of betting volume,
extensive coverage is vital as it serves as the
first impression for a potential bettor. We’re
seeing major organisations jump into esports by
endorsing the biggest tournaments, such as the
latest edition of the International Dota 2 Major,
held in Vancouver, which offered a first place prize
of around $12m. Next year, the most anticipated
event in Dota 2 will be held on Chinese turf, which
will further enhance the tournament’s overall
statistics in terms of revenue and viewership.
Widespread coverage will continue to be a
must, and operators will need to adapt to the
broader portfolio of titles that millennials want to
see on their websites, such as the popular NBA
2K in the North American market, as well as King
of Glory in Asia. Innovative concepts will further
penetrate into the live betting segment as well,
grabbing the attention of players and operators.
Millennials’ requirements are going to be
further examined, as they will become the main
user audience in the coming years. One thing for
certain is the increasing importance of innovation
in mobile and digital assets to deliver exceptional
UX/UI and services. Mobile gaming is showing
no sign of slowing down and is even expected to